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Mitsubishi Heavy Industries joins Siemens in evaluating a potential proposal for Alstom



June 11, 2014

Mitsubishi Heavy Industries (MHI) and Siemens AG announced that they have joined forces in evaluating a potential proposal for certain assets of the French multinational conglomerate, Alstom in order to strengthen the future position of Alstom, MHI and Siemens.

 

MHI and Siemens will decide on the submission of a proposal to Alstom's Board of Directors by June 16.
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Shunishi Miyanaga, President and CEO of Mitsubishi Heavy Industries: "MHI has been invited by Siemens to join forces and we firmly believe that we can substantially contribute to a partnership solution for Alstom which will create value for all parties involved, including the country of France".

Joe Kaeser, President and CEO of Siemens: "I appreciate MHI's commitment to join our efforts and I do look forward to working together with MHI to create a long-term oriented solution for Alstom, MHI and Siemens".

Mitsubishi Heavy Industries, Ltd. (MHI), headquartered in Tokyo, Japan, is one of the world's leading heavy machinery manufacturers, with consolidated sales of 3,349.5 billion yen in fiscal 2013, the year ended March 31, 2014. MHI's diverse lineup of products and services encompasses four business domains, "Energy & Environment", "Commercial Aviation & Transportation Systems", "Integrated Defense & Space Systems" and "Machinery, Equipment & Infrastructure." For more information, please visit the MHI website: http://www.mhi.co.jp/en/index.html

Siemens AG (Berlin and Munich) is a global powerhouse in electronics and electrical engineering, operating in the fields of industry, energy and healthcare as well as providing infrastructure solutions, primarily for cities and metropolitan areas. For over 165 years, Siemens has stood for technological excellence, innovation, quality, reliability and internationality. The company is one of the world's largest providers of environmental technologies. Around 43 percent of its total revenue stems from green products and solutions. In fiscal 2013, which ended on September 30, 2013, revenue from continuing operations totaled '75.9 billion and income from continuing operations '4.2 billion. At the end of September 2013, Siemens had around 362,000 employees worldwide on the basis of continuing operations. Further information is available on the Internet at: http://www.siemens.com.

This document contains statements related to our future business and financial performance and future events or developments involving Siemens that may constitute forward-looking statements. These statements may be identified by words such as "expect," "look forward to," "anticipate," "intend," "plan," "believe," "seek," "estimate," "will," "project" or words of similar meaning. We may also make forward-looking statements in other reports, in presentations, in material delivered to shareholders and in press releases. In addition, our representatives may from time to time make oral forward-looking statements. Such statements are based on the current expectations and certain assumptions of Siemens' management, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond Siemens' control, affect Siemens' operations, performance, business strategy and results and could cause the actual results, performance or achievements of Siemens to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements or anticipated on the basis of historical trends. These factors include in particular, but are not limited to, the matters described in Item 3: Key information'Risk factors of our most recent annual report on Form 20-F filed with the SEC, in the chapter C.9.3 Risks of our most recent annual report prepared in accordance with the German Commercial Code, and in the chapter C.7 Risks and opportunities of our most recent interim report.

Further information about risks and uncertainties affecting Siemens is included throughout our most recent annual and interim reports, as well as our most recent earnings release, which are available on the Siemens website, www.siemens.com, and throughout our most recent annual report on Form 20-F and in our other filings with the SEC, which are available on the Siemens website, www.siemens.com, and on the SEC's website, www.sec.gov. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results, performance or achievements of Siemens may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. Siemens neither intends, nor assumes any obligation, to update or revise these forward-looking statements in light of developments which differ from those anticipated.

For more information :

Organization:
Siemens
Address:
Freyeslebenstrasse 1
Erlangen, Germany
Germany, 91058
www.energy.siemens.com

Contact person:

Mr. Kengo Tatsukawa
Mitsubishi Heavy Industries
Tel: +81 (3) 6716 2168
E-mail: kengo_tatsukawa?@mhi.com

Contact person:

Mr. Marc Langendorf
Siemens AG
Tel: +49 (89) 636-41436
E-mail: marc.langendorf?@siemens.com


Link http://www.electricenergyonline.com/detail_news.php?ID=485821
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